Cancer Genetics, Inc. Expands the Reach of Precision Medicine by Over 2.6 Million Individuals as it Signs a New Agreement With Blue Cross Blue Shield of Minnesota
RUTHERFORD, N.J. & LOS ANGELES, Feb. 05, 2016 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq:CGIX) ("CGI" or "The Company"), a leader in enabling precision medicine for oncology through molecular markers and diagnostics, announced today that it has signed an in-network provider agreement with the healthcare network Blue Cross Blue Shield of Minnesota (“BCBS of Minnesota”). As part of the agreement, the over 2.6 million members of the Blue Cross Blue Shield plan will have access to CGI’s cancer diagnostics and genomic testing services.
Established in 1933, Blue Cross Blue Shield of Minnesota is the largest health plan in Minnesota and boasts the largest network of doctors. BCBS of Minnesota stands by its mission to make a healthy difference in people’s lives by making healthcare affordable and available when it’s needed.
“CGI is thrilled to work with Blue Cross Blue Shield of Minnesota,” said Randy Goodman, Ph.D., Director of Reimbursement and Clinical Revenue Cycle Management at Cancer Genetics, Inc. “We are looking forward to offering our comprehensive portfolio of oncology diagnostic tests to help Minnesotans have the most effective and high quality personalized cancer care available.”
The agreement with BCBS of Minnesota takes CGI a step further in the execution of its multipart access and reimbursement strategy of securing reimbursement for its genomic testing platforms by establishing relationships with leading national and regional payers. CGI now has contracts with 29 payers covering 180 million lives across commercial Medicare advantage and Medicaid plans. Increasing patient access and contracting with payers is one of the strategic components that supports the growth of CGI’s clinical testing in both solid tumor and hematological cancers.
About Cancer Genetics
Cancer Genetics Inc. is a leader in enabling precision medicine in oncology from bench to bedside through the use of oncology biomarkers and molecular testing. CGI is developing a global footprint with locations in the US, India and China. We have established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic, Keck School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services that provide critical genomic and biomarker information. Its state-of-the-art reference labs are CLIA-certified and CAP-accredited in the US and have licensure from several states including New York State.
For more information, please visit or follow CGI at:
Forward Looking Statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development and potential opportunities for Cancer Genetics, Inc. products and services, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements.
Any statements that are not historical fact (including, but not limited to, statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, risks that anticipated benefits from acquisitions will not be realized, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Cancer Genetics, Inc. Forms 10-K for the year ended December 31, 2014 and 10-Q for the quarter ended September 30, 2015 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics, Inc. disclaims any obligation to update these forward-looking statements.
Media Contact: Cancer Genetics, Inc. Marie-Agnes Patrone-Michellod, PhD. Tel: 201.528.9200 Email: firstname.lastname@example.org